Quick Breakdown
- UAE’s $700M Bitcoin stash comes from mining via Citadel Mining, not from seizures.
- Rumors overstated holdings, which were speculated at 420,000 BTC but confirmed at 6,300 BTC.
- Ranks 6th globally, behind Bhutan and ahead of El Salvador in sovereign Bitcoin reserves.
The United Arab Emirates (UAE) has emerged as one of the world’s largest sovereign holders of Bitcoin, with blockchain analytics firm Arkham Intelligence revealing that the nation controls around 6,300 BTC worth nearly $700 million. Unlike many other governments, the UAE’s reserves were not seized from criminals but accumulated through domestic Bitcoin mining operations.
BREAKING: THE UNITED ARAB EMIRATES IS NOW ON ARKHAM
The UAE’s $700M BTC holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by Citadel, a public mining company majority owned by UAE Royal Group through IHC.
Arkham is the first to… pic.twitter.com/eIGut5pJXN
— Arkham (@arkham) August 25, 2025
Mining, Not Seizures, Behind UAE’s Bitcoin Stash
According to Arkham, the country’s Bitcoin holdings stem from Citadel Mining, a company majority-owned by the UAE’s International Holding Company (IHC). Citadel launched a large-scale mining facility in Abu Dhabi in 2022, in partnership with Phoenix Group, a publicly listed UAE mining firm.
Arkham said it verified mining activity by cross-checking on-chain transactions between Phoenix and Citadel with official company disclosures. Satellite imagery of the facility’s construction also matched the timeline of mined Bitcoin appearing on-chain.
So far, Citadel is estimated to have mined about 9,300 BTC in total, with 6,300 still held in government-linked wallets.
Rumors vs. Reality: UAE’s Actual Holdings
Speculation has long circulated that the UAE controlled as much as 420,000 BTC (around $46 billion), allegedly from global asset seizures. Arkham’s findings sharply contrast with those rumors, showing that the government’s Bitcoin stash is substantial but far smaller.
How the UAE Ranks Globally in Bitcoin Holdings
With its reported reserves, the UAE ranks sixth among sovereign Bitcoin holders, sitting just behind Bhutan (11,286 BTC) and slightly ahead of El Salvador (6,246 BTC), according to data from BitBo.
The United States leads with 198,012 BTC, largely seized from criminal cases, followed by China with 194,000 BTC from the PlusToken crackdown, and the United Kingdom with 61,245 BTC. Altogether, sovereign states hold around 517,000 BTC, representing 2.4% of Bitcoin’s total supply and worth over $56 billion.
For comparison, Bitcoin’s mysterious creator Satoshi Nakamoto is believed to hold over 1.09 million BTC, while Michael Saylor’s MicroStrategy leads corporate treasuries with more than 629,000 BTC according to Arkham.
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